Hostess, maker of Twinkies, Ho-Ho's, Ding Dongs, and my favorite cupcakes, decided to liquidate the company last week after they could not make a deal with their union. It's reported that there are other companies willing to bid for rights to the iconic snackcakes. Even if no longer available in the U.S., it's said that they would be available in Canada.

Hostess had been in operation for more than 80 years. It had been based in Irving Texas. It filed for Chapter 11 bankruptcy in January, after facing increasing competition. It was the second time Hostess had been in bankruptcy in the last decade.

About 18,000 employees will lose their job because of the Hostess bankruptcy. It's reported that it is too late to save the current company, even if the workers changed their mind and decided to accept the latest deal to stay on.